- The doorbell rings.
- It's Effie with the bundle.
- She gives it to Spade and leaves.
- Spade puts the bundle on the table, and Gutman tears it open like a kid at Christmas.
- For the first time, we see the Falcon.
- Gutman scrapes at the statue with a pocketknife to make sure it's the real deal.
- It isn't. It's made of lead. It's a fake.
- Spade blames Brigid, who says that it's the one she got from the Russian.
- Cairo blames Gutman for attempting to buy it, and blowing the plan. He calls him "a stupid fathead" and starts to cry. Whoa, no need for such vile language, man.
- Gutman doesn't seem to take it too hard. He decides to leave and continue pursuing the statue, bringing Cairo with him.
- But when he looks at the couch, he sees that Wilmer is gone.
- Spade let him leave right out the front door.
- Gutman wants his $10,000 back, but Spade won't give it up. After all, he gave him the statue. He didn't know it was fake.
- When Gutman pulls a gun, Spade gives him the envelope, keeping $1,000 for his time and expenses.
- Gutman asks Spade if he wants to come along on the pursuit of the statue, but Spade declines.
- The bad guys leave, and Spade goes for the phone to call the sergeant.
- He tells him Jacoby and Thursby were killed by Wilmer Cook, who was employed by Gutman and worked with Cairo. He tells them where they're staying. They're going down.